Newmark Arranges $35 Million Sale and Secures Acquisition Financing for 114-Unit Apartment Building in Huntington Beach, CA

July 31, 2025 9:00 AM

Newmark announces the company has arranged the $35 million sale of Huntington Breeze, a coastal 114-unit 55+ active adult multifamily property in Huntington Beach, California. The seller, Bascom Group, was represented by Newmark Vice Chairman Dean Zander, who worked on the deal with Voit’s Joe Leon and Nick Ingle.

Newmark Executive Managing Directors Vincent Punzi and Lowell Takahashi facilitated acquisition financing on behalf of the buyer, WSW Property Ventures, a new venture headed by Steve Wasserman, Pamela Scott and George Wu.

“Orange County is currently experiencing a significant housing shortage – this is especially true for 55+ apartments,” said Zander. “The active seniors housing supply pipeline in the County is projected to add less than 200 new apartments to the marketplace.”

Located at 16171 Springdale Street, Huntington Breeze offers substantial value-add opportunities for its new owner. Situated in the coastal enclave, the property features a diverse unit mix of studio, one- and two-bedroom apartment homes, complemented by an extensive array of amenities tailored to the dynamic lifestyle of 55+ renters. The new buyers plan to unlock additional value through strategic initiatives, including the potential development of accessory dwelling units (ADUs), capturing below-market rents and implementing a comprehensive renovation program.

“The sale of Huntington Breeze reflects the strong investor demand for value-add opportunities in Orange County,” said Leon. “With its rental upside and ideal coastal location, this property offers the new ownership a platform for durable growth and outsized returns.”

Huntington Beach offers the lifestyle appeal and prestige of one of Southern California’s most iconic coastal cities. The central Orange County city is home to numerous renowned shopping, dining and entertainment destinations drawing visitors and tourists from across the region and Country. The area’s growing appeal is underscored by a projected 8% increase in residents age 55 and older over the next five years, further intensifying demand for premium senior living options like Huntington Breeze, according to Newmark Research.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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